You have the option of consuming one can of soda or two cookies or three oranges. You picked the can of soda. Therefore the opportunity cost of this can of soda is the price of the cookies as they are not usually consumed with soda. either the cookies or the oranges, whichever you like more. the difference in the prices of these three products. the price of the can of soda.

Many potential buyers value high-quality used cars at the full-information market price of € p1 and lemons at € p2. a limited number of potential sellers value high-quality cars at € v1 ≤ p1 and lemons at € v2 ≤ p2. everyone is risk neutral. the share of lemons among all the used cars that might be potentially sold is € θ . suppose that the buyers incur a transaction cost of $200 to purchase a car. this transaction cost is the value of their time to find a car. what is the equilibrium? is it possible that no cars are sold